Long-Term Care Insurance · Educational Guide
Planning for care you may need later starts with understanding what long-term care insurance can and cannot do.
Long-term care insurance may help cover services that health insurance and Medicare generally do not, subject to policy terms, benefit triggers, elimination periods, exclusions, and underwriting.
Planning-first, not product-first
Salem, NH — serving NH, MA, and New England
Educational, no-pressure conversations
Coordination with your CPA and attorney where appropriate
The basics
What long-term care insurance generally is
Long-term care insurance is designed to help pay for care services — such as assistance with activities of daily living, home care, assisted living, or nursing facility care — that most health insurance and Medicare do not typically cover on an extended basis.
Policies vary in what they cover, how benefits are triggered, how long benefits last, how much they pay, and what is excluded. Eligibility, cost, and coverage depend on underwriting, age, health, and the insurer's requirements.
- An insurance product designed to help cover extended care services
- Benefits typically triggered by an inability to perform a stated number of activities of daily living or cognitive impairment, as defined in the policy
- Elimination periods determine how long you must wait before benefits may begin
- Benefit amounts and benefit periods set the maximum the policy may pay
- Coverage, exclusions, and limitations vary by policy and insurer
Trade-offs worth reviewing
- Premiums can increase over time, and future rate increases are possible
- Underwriting means eligibility and cost depend on age and health
- Benefit triggers, elimination periods, and coverage limits vary significantly between policies
- Benefits may not cover every type of care or every setting
- Coordinating potential benefits with other resources, family support, and state programs is part of a broader plan
Before you decide
Questions to consider before choosing a policy
What care settings and services does the policy cover?
How are benefits triggered, and who makes that determination?
What is the elimination period, and how long could benefits last?
What is the maximum daily or monthly benefit, and is it inflation-adjusted?
Are premiums level, or can they increase, and under what conditions?
How does this fit alongside my retirement income, savings, and family resources?
Guide
Long-Term Care Insurance Review Checklist
A plain-language checklist for reviewing long-term care insurance: benefit triggers, elimination periods, benefit amounts, coverage settings, exclusions, and premium terms.
What happens next
- 1We confirm your request and send the guide you asked for.
- 2A brief call to understand your situation and the questions on your mind.
- 3If it makes sense, we schedule a longer conversation. If not, you keep the guide and there is no follow-up pressure.
Questions people ask
Frequently asked questions
Medicare generally covers only limited skilled care after a qualifying hospital stay and does not cover extended custodial or personal care. Long-term care insurance is designed to address a different need, subject to policy terms and conditions.
Based in Salem, New Hampshire, Guardian Financial Services works with individuals, couples, families, and business owners throughout southern New Hampshire, Massachusetts, and the broader New England region.
Have a conversation before you make a decision.
A short, no-pressure conversation can help you understand the trade-offs and whether any next step makes sense for your situation.
Important disclosures
These policies have exclusions and/or limitations. Guarantees are based on the claims paying ability of the issuing company. Long Term Care Insurance or Asset Based Long Term Care Insurance Products may not be suitable for all investors. Surrender charges may apply for early withdrawals and, if made prior to age 59 ½, may be subject to a 10% federal tax penalty in addition to any gains being taxed as ordinary income. The cost and availability of Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. Please consult with your financial professional when considering insurance options.